CAT did not quite make it up to 90, so this was a case where it moved in the right direction but didn't quite make it to the target. It is now actually a sell since it is breaking down below some significant long term support. I'll watch it over the next week to confirm that it is now in a downtrend.
RIG had a nice pop up to 55 ish but is now retracing to the 52-53 range. It may go as low as 50, and it is still a buy for the long term. Stop remains at 44.
Expect CVX to hit the low 130's over the next 6-8 weeks. Current price is around 124.
IBM may be entering a third wave down, heading to around 170. It was down 1.5 % on Friday while other Dow stocks were climbing. This could be a big options play. Try for some Dec 180 puts which will be quite attractive if the stock does a retrace up to 183 this week.
RIG had a nice pop up to 55 ish but is now retracing to the 52-53 range. It may go as low as 50, and it is still a buy for the long term. Stop remains at 44.
Expect CVX to hit the low 130's over the next 6-8 weeks. Current price is around 124.
IBM may be entering a third wave down, heading to around 170. It was down 1.5 % on Friday while other Dow stocks were climbing. This could be a big options play. Try for some Dec 180 puts which will be quite attractive if the stock does a retrace up to 183 this week.
